Ametek sees quarterly adjusted earnings of 66 cents a share

ChristopherHinton

NEW YORK (MarketWatch) -- Ametek Inc.
AME, -0.58%
said Wednesday its fourth-quarter earnings are expected to be in a range of 40 cents to 42 cents a share. On an adjusted basis, the Paoli, Pa., manufacturer of electric motors and electronics forecast earnings of 66 cents a share, in line with the Wall Street consensus as provided by FactSet Research. Adjusted earnings includes a pre-tax charge of $38 million to $40 million to cover employee reductions, which are expected to result in a savings of $75 million for 2009. For 2009, Ametek forecast earnings of $2.40 to $2.60 a share. Analysts were looking for $2.62 a share, on average. Shares of Ametek closed Tuesday at $29.48, up 1.2%.

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